A look into the top 10 China wine news stories from 2014

8th Jan. 2015 / THE MARKET · China wine market

2014 was a tumultuous year for the China wine market, so as we move into an exciting and dynamic 2015, it’s only right to take a moment to reflect on all that happened over the past year. In fact, the China Wines Information Website (en.wines-info.com) has recently done just that in their 2-part article: “The top 10 China wine news in 2014,” listing 10 milestones from 2014, and Summergate even made the list!

See below for a brief recap of some of our favorites from the list, or visit their website for the full article:

PART ONE: http://en.wines-info.com/html/2015/1/189-59923.html
PART TWO: http://en.wines-info.com/html/2015/1/189-59992.html

#1: China ranked the number 1 consumer of red wine in the world
According to an IWSR study, China (including Hong Kong) became the world’s leading consumer of red wine, with 1.865 billion bottles of red wine consumed in 2013.

#2: Say goodbye to Australian wine tariffs!
China and Australia signed a free trade agreement on Nov. 17th, in which China agreed to “gradually limit tariffs on Australian wine starting 2015”. We are excited to see Australia now joining Chile and New Zealand as the only 3 countries now enjoying tariff-free wine importing into China!

#4: The Austerity Campaign
The government’s crackdown on corruption continued to hit the market hard in 2014, with big players such as Pernod Ricard, Diageo, and Treasury Wine Estates sales all feeling the strain.

#5: China market’s shift to a more consumer-driven market
Although it’s difficult to say a full ‘transformation’ has occurred, we have seen a definite shift in China towards a consumer-focused market, balancing-out the sharp decrease in government spending.

#9: Summergate and Woolworth’s Liquor Group Join Forces!
We must admit that we are personally excited to see our own name on the list for 2014, referring to the December 1st announcement of Summergate’s acquisition by Australia’s largest drinks retailer, Woolworth’s Liquor Group. This deal gives both parties and all stakeholders tremendous opportunities for future growth in the decades to come.